Indonesia’s investment management agency Daya Anagata Nusantara (BPI Danantara) has received a massive dividend injection of Rp150 (US$9.14 billion) from state-owned enterprises (SOEs), marking a significant leap from the previous year.
At the IKA Fikom Unpad Executive Breakfast Meeting held in Jakarta on Wednesday, June 18, 2025, Dony Oskaria, Chief Operating Officer of Danantara, highlighted the scale of this year’s earnings.
“These dividends are contributions from all SOEs and will be reinvested,” Dony said.
According to Dony, the dividends this year nearly double compared to the previous year. In 2024, the Ministry of SOEs reported a total dividend of Rp85.5 trillion. The rise is attributed to strong performance across state-owned enterprises, with total combined profits for the 2024 fiscal year reaching approximately Rp307 trillion.
Some of these profits are allocated for restructuring initiatives, while the remainder is distributed as dividends. Danantara now oversees two distinct superholding entities − Danantara Asset Management (for SOE-related assets) and Danantara Investment Management (for broader investment activities). This separation is aimed at risk mitigation and transparency, preventing pitfalls like those seen in the 1MDB scandal.
Danantara's dividend gains have exceeded the national budget target of Rp98 trillion, and importantly, have been achieved without reliance on State Capital Injection (PMN).
As reported by Katadata.co.id, Danantara has already received Rp71.38 trillion in dividends from eight SOEs. This figure is expected to grow as contributions from major non-public companies, like State energy company PT Pertamina and State electricity company PT PLN, are added.
Among publicly listed companies, significant payouts came from major state banks:
* Bank Rakyat Indonesia (BRI) paid Rp343.4 per share, delivering Rp27.68 trillion to Danantara, which holds a 53.19 percent stake (80.6 billion shares).
* Bank Mandiri distributed Rp466 per share, contributing Rp22.62 trillion with Danantara owning 52 percent (48.5 billion shares).
* Bank Negara Indonesia (BNI) and Bank Tabungan Negara (BTN) added Rp8.37 trillion and Rp451 billion, respectively.
Outside of banking, the largest non-financial dividend came from Telkom Indonesia (TLKM), where Danantara’s 52 percent stake (51.6 billion shares) earned Rp10.96 trillion.
Other notable contributions include:
● Jasa Marga: Rp773.4 billion;
● Semen Indonesia (SMGR): Rp332.6 billion;
● Vale Indonesia (INCO): Rp193.5 billion, with Danantara’s 34 percent stake held via MIND ID.
Danantara's record-breaking dividend haul reflects the strong financial performance of Indonesia’s SOEs and supports its growing role in reinvesting public wealth into national development projects.
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